Teledyne Technologies Inc Q1 Profit Increases, beats estimates

(RTTNews) - Teledyne Technologies Inc (TDY) reported earnings for its first quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $212.6 million, or $4.46 per share. This compares with $84.7 million, or $2.23 per share, in last year's first quarter.

Excluding items, Teledyne Technologies Inc reported adjusted earnings of $203.9 million or $4.27 per share for the period.

Analysts on average had expected the company to earn $3.97 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 63.0% to $1.32 billion from $0.81 billion last year.

Teledyne Technologies Inc earnings at a glance (GAAP) :

-Earnings (Q1): $212.6 Mln. vs. $84.7 Mln. last year. -EPS (Q1): $4.46 vs. $2.23 last year. -Analyst Estimate: $3.97 -Revenue (Q1): $1.32 Bln vs. $0.81 Bln last year.

-Guidance: Next quarter EPS guidance: Adj; $4.32 to $4.40 Full year EPS guidance: Adj;$17.75 to $18.00